Ejara, a Cameroonian crypto and savings platform has raised $8 million in a Series A investment.
The growth round was co-led by the cryptocurrency-focused fund Dragonfly Capital and the London-based venture capital company Anthemis. Anthemis, who had also led the fintech's $2 million seed round disclosed last October, is an additional investor in Ejara.
The fintech company offers an investment programme that enables users to acquire cryptocurrency and store money via decentralized wallets.
Ejara’s CEO Nelly Chatue-Diop and her co-founder Baptiste Andrieux took advantage of the potential they saw to boost cryptocurrency activity in the region by giving customers in Francophone Africa the ability to buy, sell, trade, and keep their crypto investments.
The fintech company provides clients with the option of non-custodial wallets so they may own and store their keys, in contrast to the majority of crypto platforms in Africa that give users custodial wallets.
That choice has paid off, especially now that the failure of FTX and other crypto companies has once again highlighted the necessity for users to put privacy and ownership first when working with cryptocurrencies and tokenized assets.
Other follow-on investors Mercy Corps Ventures, Coinshares Ventures, and Lateral Capital, as well as new investors Circle Ventures, Moonstake, Emurgo, Hashkey Group, and BPI France, are among the VC companies taking part in this fresh funding. One of the angel investors in the round is Blockwoks co-founder Jason Yanowitz.
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